Guideline Value for CHANDRAN AVENUE

Chandran Avenue guideline value

The current guideline value of Chandran Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Chandran Avenue has changed

In the 2012 revision, the guideline value for Chandran Avenue was Rs 2,500 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 1,675 per sq.ft. The guideline value then increased to Rs 2,500 per sq.ft in 2023, followed by a rise to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the values from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the 2024 figure for Chandran Avenue above this median.

• Chakratees Street: Rs 1,650 per sq.ft (2024)
• Chakrapani Street: Rs 1,100 per sq.ft (2024)
• Cauvery Street: Rs 2,750 per sq.ft (2024)
• Buddhar Street: Rs 2,750 per sq.ft (2024)
• Chithambaranar St: Rs 1,650 per sq.ft (2024)
• Chitlapakkam IIIrd Main Road ( Thirumurugan Salai ): Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Chandran Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chandran Avenue?

The Sub Registrar Office that covers Chandran Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Chitlapakkam

The guideline value is an essential factor during property registration in Chitlapakkam. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating these fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Chandran Avenue?

The current guideline value of Chandran Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Chandran Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which SRO covers Chandran Avenue?

The Tambaram Joint 1 Sub Registrar Office covers Chandran Avenue, located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the land classification for Chandran Avenue?

Chandran Avenue is classified as Residential Class I Type - II, indicating its suitability for residential development.